August 24 (SeeNews) - US diversified hospitality company Marriott International plans to open the first hotel under the Sheraton brand in Serbia in November, Serbian media reported on Wednesday.
The hotel will be located in a building owned by vertically integrated conglomerate MK Group in Novi Sad, Serbian daily Vecernje Novosti quoted sources from the company as saying.
MK Group acquired the building from Serbian entrepreneur Vojislav Gajic, the owner of building company Aleksandar gradnje, at the end of 2016. Gajic had invested about 11 million euro in the building and was planning to open a hotel under the "Holiday Inn" brand, but the negotiations with the US company failed, Vecernje Novosti said.
In addition to the opening of the Sheraton hotel in Novi Sad, MK Group plans to expand its hotel business in Montenegro and Croatia, the daily quoted sources from the conglomerate as saying.
MK Group acquired the Kempinski Palace Portoroz hotel in Slovenia in 2015, as part of efforts to expand its hotel business in the region.